Question No: 21

You set up three pay-when-paid (PWP) terms and assign them to the vendors for a project. For the first PWP term,you set the account code for all vendors (All). For the second PWP term,you set the account code for an individual vendor (Table). For the third PWP term,you set the account code for a group of vendors (Group).

What is the order of precedence for assigning the PWP terms when you create a project purchase order?

Table,All,Group

All,Group,Table

Table,Group,All

All,Table,Group

Answer: C

Question No: 22

Which task is allowed after a budget is approved?

Creating an additional project budget for the project

Creating a general ledger budget for a new subproject

Reallocating a project budget from another project

Building a forecast model from the project budget

Answer: C

Question No: 23

Which statement about funding sources is true?

A project contract must have one and only one funding source.

Funding sources must be created when the project contract is created and cannot be added later.

A project contract must have at least one funding source.

Funding sources can be created at any time during a project and will apply retroactively.

A project contract does not have to have a funding source.

Answer: C

Question No: 24

Which three items are valid project types? (Each correct answer presents part of the solution. Choose three.)

Investment

Profit and loss

Time

Time and material

Quotation

Answer: A,B,E

Question No: 25

Which three items are valid base amount options when defining compounding rules for an indirect cost calculation? (Each correct answer presents part of the solution. Choose three.)

Cost

Revenue

Invoice

Unit rate

Percent

Answer: A,B,E

Question No: 26

Based on which method do time and material projects create invoices?

Monthly payments

Predefined milestones in the project

Transactions posted to the project

Project phases

Answer: C

Question No: 27

Which three actions are part of the basic setup for indirect costs? (Each correct answer presents part of the solution. Choose three.)

Creating an indirect component group

Setting up revenue accounts in the Project categories form

Creating an indirect component

Defining an indirect component category

Setting up the cost accounts in the Project categories form

Answer: A,B,D

Question No: 28

You assign resources to a project.

You need to define the scheduling requirements for the project.

Which three actions are scheduling requirements? (Each correct answer presents part of the solution. Choose three.)

Setting up the calendar to use for the workers on the project

Specifying the estimated hourly rate for the workers on the project

Specifying the type of calendar for the project

Setting the start date and end date of the project

Specifying the estimated number of worker hours required to complete the project

Answer: B,C,D

Question No: 29

You transfer a project quotation with a work breakdown structure to a new project.

Which three project data sets can be created during the transfer process? (Each correct answer presents part of the solution. Choose three.)

Invoice proposal

Project budget

Forecast

Item requirements

Billing rules

Answer: B,D,E

Question No: 30

You define project requirements in the work breakdown structure. What do the Importance settings determine?